Monday Energy Links
1. Kansas Prepares for Gold-Rush Style Oil Boom
. “It will enrich the area in a way it never has before economically,” says independent oilman Robert Murdock. “It is going to change things forever in this part of the world.”
2. “If the Tuscaloosa Marine Shale formation proves to be a honey hole for oil and gas companies, then southwest Mississippi could see a boost in business and an influx of oil workers
and residents with new disposable income. Britt Herrin, executive director of the Pike County Chamber of Commerce and Economic Development District, points to hundreds of new jobs and customers for existing businesses seen in communities in and around the Eagle Ford oil formation in Texas.”
3. “The combined forces of high oil prices and improved drilling technology have produced a gush of unexpected tax dollars from oil and gas wells across Texas.Six months into the state’s budget year, taxes paid on natural gas production are up 73% over the same period last year, while revenue from the oil production tax is up 49%.
Together, oil and gas taxes so far have brought in a total of $1.8 billion. That amounts to $684 million more than in the first half of last year, which was a blockbuster year in itself with $2.6 billion in oil and gas tax revenues.And the state’s most important source of revenue — sales tax collections — has been far exceeding projections, due in part to oil and gas companies’ heavy spending on equipment, supplies and services needed to drill new wells.”